NEW ATM SKIMMERS BEING USED TO STEAL YOUR MONEY

Older ATM skimmers were placed over the top of the cash machine’s card slot, however the latest videos show that the new skimming devices are designed to be inserted into the card slot, and are unable to be detected by a visual inspection.

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The security site KrebsOnSecurity published two promotional sale videos, which show how ATM skimmers are installed.

Older ATM skimmers were placed over the top of the cash machine’s card slot, however the latest videos show that the new skimming devices are designed to be inserted into the card slot, and are unable to be detected by a visual inspection.

“In a typical setup, insert skimmers capture payment card data from the magnetic stripe on the backs of cards inserted into a hacked ATM, while a pinhole spy camera hidden above or beside the PIN pad records time-stamped video of cardholders entering their PINs,” stated Krebs.

The reason ATM skimmers are so successful is that most people don’t know they’re their, and nobody suspects that the ATM they’re using has been compromised.

The skimmer collects your card’s data, allowing for a new card to be fabricated, and hidden cameras record you putting in your pin. An easy fix is “Covering the PIN pad with your hand blocks any hidden camera from capturing your PIN – shockingly, few people bother to take this simple and effective step.”

Here are four tips to help you protect your account.

1. Cover your password with your hand

Hidden cameras are disguised so they can pick up your password. By protecting it, ATM thieves can’t access your account.

2. Use familiar ATMs and limit your visits

ATMs in dimly lighted spots or used late at night could be more susceptible to fraud, while ATMs under video surveillance can be safer. Stay away from ATMs at retail stores or restaurants, adds Siciliano. Airports, convenience stores or kiosks are equally vulnerable to ATM thieves. Still, even highly trafficked ATMs outside a bank branch have been targeted by thieves.Also, try to limit your visits to the ATM. “With frequency, there’s risk,” says Siciliano.

3. Check bank balances frequently

Given the two-day window for reporting fraud, it pays to check your account frequently. If you don’t report fraud within 60 days, you have unlimited liability. “Sign up for alerts and notice unusual withdrawals,” says Vamosi.

With credit cards there are more protections in place, and you can dispute charges.”You have at least a billing cycle,” says Siciliano.

4. Observe the ATM

Vamosi cautions consumers to look at an ATM to make sure a card slot is “legitimate and not tacked on.” Look for things that strike you, he says. “Some people have felt that when they inserted their card, something went awry,” he says. In that case, try another ATM.When protecting your account against ATM thieves, “it’s all about awareness, paying attention and understanding risks,” says Sicilano. “There are 400,000 ATMs and every one of them is susceptible to fraud. The speed and convenience of technology has replaced the security of technology.”

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